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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (41774)	7/14/2011 10:05:39 AM
From: E_K_S	Read Replies (2) of 78525

Re: Chicago Bridge & Iron Company N.V. (CBI) CB&I Awarded Gorgon Project Contract - Contract Has Estimated Value of US$2.3 Billion finance.yahoo.com From the article:"...CB&I (NYSE:CBI - News) announced today that Chevron Australia Pty Ltd has awarded CB&I a contract for the mechanical, electrical and instrumentation work on the Gorgon Project on Barrow Island, Western Australia. The contract has an estimated value of US$2.3 billion and is scheduled to be completed in 2015....". --------------------------------------------------------------------------------------------------------------------------- I was thinking of selling this one w/ the possibility of a slow down in world economic growth but this contract (one of the biggest LNG developments in the World) provides a good reason to hold for another 24-36 months. Their forward PE is at 14.6 and could come down based on the different projects they have in their backlog. Also, LNG infrastructure spending should continue w/ all the recent shale development. I won't add shares at the current level but I am glad I stepped up in June 2010 and bought shares at $17.83/share. Stock should have a chance to reach it's $50.00/share target price in the near future especially winning this new contract. EKS

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